More than 800,000 non-fungible tokens (NFTs) were minted using the NFT Maker (NMKR), the first public “Mint-on-Demand” tool running on the Cardano (ADA) blockchain.
One of the cryptocurrency projects that uses the platform to mint their NFTs is CardanoPeakz, with digital collectibles representing the summits of the world’s mountains such as Mount Everest, Nanga Parbat and Denali.
NFT Maker was launched as a way to lower the barrier to entry of NFTs for end users, artists and brands.
The project created a complete set of integration, coinage and secondary market sales tools. So users can deploy without requiring any coding knowledge.
Among the things that make Cardano one of the preferred platforms for NFT minting is its scalability. Namely, its ability to handle the growth of the decentralized application (dApp) ecosystem and onboard millions of new users.
In September 2021, Cardano performed a major network upgrade, including smart contract functionality that increased the scalability and speed of the blockchain.
By the end of January 2022, it had received over 1,000 smart contracts and over 3 million new ADA wallets.
Also, in the same month, the company said it increased the block size by 12.5% – to 72 KB. It also announced other improvements focused on performance and scalability, such as the introduction of disk storage and improved block propagation times for at least 95% of peers within five seconds, reducing “dead time” between blocks.
NFTs are increasingly being leveraged by companies and individuals looking to interact with customers to benefit from the value offered by digital artworks.
According to Finbold data, in 2021, NFT-related brands in the United States reached 1,263, representing a 421-fold growth from the three registrations in 2020.
In 2021, the highest registered trademark was registered in December at 407. Meanwhile, the month of January had zero trademarks.
Registrations have accelerated over the past six months, increasing 552.17% between August 2021 and January 2022.
The US Patent and Trademark Office received the most filings in history in January. There were more than 450 requests, that is, about 15 filings per day.